The Narendra Modi Government on Wednesday evening gave its nod to 15 per cent hike in salaries of CPEC employees. The decision was taken in the Cabinet meeting, chaired by Prime Minister Narendra Modi that was held on Wednesday.
The Cabinet approved implementation of the recommendations of the 3rd Pay Commission for central public sector enterprises' (CPSE) employees, an official told PTI.
The 15 per cent hike was proposed by the commission earlier, is the lowest increase so far and will be effective from January 1, 2017. The previous commission had given a 37.2 per cent rise in 2007 and the first commission had given between 24 per cent and 30 per cent increase.
The cabinet led by PM Modi had also recently approved revised allowances under the 7th Pay Commission for central government employees after many delays in the past.
Another big decision taken at the Cabinet meeting was regarding the sale of stake in HPCL. The CCEA agreed to sell 51.11 per cent government stake in Hindustan Petroleum Corp Ltd (HPCL) to the country's largest oil producer ONGC.
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